Preventing Another Bitcoin Bubble

[Editors Note: Although Bitcoin has experienced multiple short term bubbles and busts. In the long term, Bitcoin has never been in what I would consider a major bubble. At $19bn Market cap and $365tn in all other major global asset classes, Bitcoin’s long term growth prospects are potentially unprecedented.

That said, on a short term basis there is some pertinent information in this articleand the risks of introducing a Bitcoin ETF at this early stage]

“Losing 15–20% in a day is the norm for us living in the crypto world — but not for people who have their retirement savings on the line. The fact that it’s hard to buy Bitcoin right now is a good thing, for now, because it self selects sophisticated investments, by and large”

“Overall, I’m not against the idea of the ETF — I think it will be a good thing but I don’t believe that 2017 is the year for it. Once Bitcoin gets into the $3–5k range (hopefully in the next year or so) and the volatility continues to drop, then I believe we can expose it to retail investors — but for now, I’m hoping we can avert another Bitcoin Bubble!”

What a week for Bitcoin, I talk about the new Bitcoin all-time-highs of $3500, the adoption of segregated witness which catalysed the move and allows Bitcoin to scale, and also my approach and thoughts on the Bcash (BCH) (BCC) market.

Commentary taken from World Crypto Network talk on the 6/08/2017 original video here:

“In this final episode of the Keiser Report from Freedom Fest in Las Vegas, Max and Stacy encounter Peter Schiff in the halls of the convention center and challenge him on bitcoin. Max continues his interview with bitcoin entrepreneur Charlie Shrem to discuss the latest drama and innovation in the cryptocurrency space”

With the news that Bitcoin is finally on the verge of scaling with the activation of Segregated Witness. Bitcoin will soon be able to facilitate many more users and transactions, growing the network and its potential value. …Its bigger than fiat !

If your holding Bitcoin long term, Hardware Wallets such as Trezor and Ledger are a mustto protect your Bitcoin from hacks and eliminate counterparty risk that is present when holding Bitcoin on centralised exchanges.

PROSPER IN THE NEW FINANCIAL PARADIGM

"Embraced as a “renegade currency,” U.S. investors contend Bitcoin protects Americans from a decaying dollar. They acknowledge it also threatens the U.S. Federal Reserve, and other central banks, which control fiat currencies around the world. Bitcoin’s whole point, it seems, is to eliminate central banks and investment middlemen across the globe to create a free market virtual ownership society"

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